Windows 81 And Windows Server 2012 R2 Privacy Statement For Installation Features Key Verified -

No. The product key (used for activation) is separate. The Installation Features Key controls telemetry about feature installation success/failure , not licensing validation.

It sends standard device information to Windows Update to find matching drivers. Customer Experience Improvement Program (CEIP)

Entering a product key triggers the automated activation routine built into the core platform architecture.

If you need to retrieve a lost key from an existing installation for documentation or migration purposes, you can find the product key using CMD by running the following command in an Administrator prompt: wmic path softwarelicensingservice get OA3xOriginalProductKey BranchCache | Microsoft Learn